Alisher Usmanov has delivered a fresh statement of intent in the battle for
control of Arsenal by declaring that he will keep buying shares until he has
matched Stan Kroenke’s 29.9 per cent stake.

The Uzbek billionaire has been the most active of the club’s main investors throughout 2010 to increase his shareholding to just under 27 per cent and, although Kroenke and fellow director Danny Fiszman continue to hold the balance of power, the gap has been steadily closing.

Intriguingly, Usmanov also kept his options open in explaining his plans for Arsenal if he should reach 29.9 per cent.

“The goal is to increase the holding up to a blocking stake, 29.9 per cent,” he said. “Afterwards, we’ll see what to do further. If all the shareholders are united by then like they are now, we’ll keep it at that level.

“I chose to invest significant money in Arsenal because I consider it to be one the world’s most well-structured football clubs, with one of the best stadiums and led by a genius coach, Arsène Wenger. I don’t regret this investment. It’s not dropping in value, it’s rising only.”

The 29.9 per cent threshold is significant because any shareholder who gets beyond 30 per cent would be obliged to make a full takeover offer.

Usmanov’s stated public position has always been that he is a long-term investor who favours plurality of ownership and it is understood that outlook has not changed. Indeed, according to sources, it had always been his intention to keep buying shares until he reached the 29.9 per cent threshold.

Despite being the second largest shareholder, Usmanov has not been invited onto an Arsenal board that is effectively controlled by the alliance between Kroenke and Fiszman, who owns 16.1 per cent.

The fourth major shareholder is Lady Bracewell-Smith who has put her 15.9 per cent stake up for sale through Blackstone, a global financial services company.

Kroenke, an American billionaire sports team owner, is eventually expected to launch a full takeover of Arsenal, but completed a £292 million deal in August to take full control of the St. Louis Rams American Football team. It means that he now has a controlling stake in five different sports teams in the United States.

Lazio, meanwhile, are understood to have made an approach to Arsenal about the possibility of a loan deal for Nicklas Bendtner from January until the end of the season.